Six reasons you probably need a mortgage adviser

It’s true that many people don’t see the value in using a mortgage broker when buying a house. Previously, mortgage brokers in places like the UK and USA engaged in risky practices that involved unscrupulous brokers arranging home loans for buyers that were unsustainable and financially damaging.

Laws have since been, and are currently being passed that will ban this kind of behaviour overseas. Thanks to the stringent National Credit Act in South Africa, consumers are more protected against major debt – especially when it comes to an investment as major as buying a house. But consumers are naturally wary about third parties, and the bad behaviour of some brokers can leave a stain on even reputable bond originators.

If you’re currently in the market to buy a house and have decided against using a bond originator, here are a few reasons why you should reconsider employing the services of a mortgage advisor before you go it alone:

1. Banks’ loan rules change frequently. It is the advisors’ prerogative to stay abreast of these developments and guide you in your best interests.

2. Comparing rates on your own takes time- time that you might not have. Using a bond originator will significantly reduce the amount of time you’ll spend shopping around for rates.

3. A bond advisor will handle the home loan application process on your behalf- again saving you time and the frustration of dealing with the red tape associated with buying a house. Using a mortgage advisor during the application process could dramatically improve your chances of having your application approved.

4. Although some bond originators may charge a fee for the services, BetterBond will assist you in your home loan application process free of charge.

5. This is their field of expertise. Whereas you will only buy one, two, maybe three homes in your lifetime, a bond originator deals with home loan applications all day, everyday and will be able to answer all of your questions and give you the best, most relevant advice when it comes to your purchase.

6. Mortgage advisers will shop around to find the best deal for you from all financial institutions. So even though you might bank with one bank, your best deal may come from another institution – a deal that you might not discover were you to go it alone.


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About BetterLife Home Loans

Since 2003 BetterLife Home Loans has been SA’s No.1 Bond Originator, handling the entire home loan application process on your behalf – free of charge! Our aim is still to source the best interest rate for you by submitting your home loan application to all the major banks. There is no easier way to apply for a Bond or Home Loan in South Africa!

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